Minister of State for Industry and Commerce holds one-on-one talks with Saudi Arabia’s Assistant Minister of Investment 

Jaipur : Extending an invite to Saudi Arabia to participate in ‘Rising Rajasthan’ Global Investment Summit 2024 as ‘partner country’, the high-level delegation led by Minister of State for Industry and Commerce Shri K K Vishnoi today held talks with Saudi Arabia’s Assistant Minister of Investment H.E. Eng. Ibrahim Yousef Al Mubarak & Deputy Minister of Investment Sara Al Sayed. Seeking cooperation to facilitate new investment and business opportunities in Rajasthan, the Minister-led delegation apprised the Kingdom of Saudi Arabia delegation of the instrumental pro-business policy reforms being implemented by the government under the leadership of Chief Minister Shri Bhajan Lal Sharma.

Continuing the series of signing investment MoUs ahead of the summit, the Minister-led delegation also signed investment MoUs with Riyadh-based Swiss Hospitality Company and Jeddah-based Sea Ventures in the hospitality development sector. Based out of Riyadh, Swiss Hospitality Company provides services ranging from Advisory and Project Management to Community Engagement & Development among others. The Jeddah-based Sea Ventures, in addition to being consultancy major also provides support to emerging entrepreneurs, new ventures and community building and engagement programs among others.

The Minister-led delegation also held a very fruitful engagement with the officials of Riyadh based engineering and construction major Alfanar Projects which expressed its willingness to make new investment in Rajasthan in the field of renewable energy.

Speaking on the occasion, Minister of State for Industry and Commerce Shri K K Vishnoi in a statement said, “Saudi Arabia is one of West Asia’s largest economies and dotted with leading business groups in sectors ranging from petrochemicals and engineering to real estate and renewable energy which are of crucial significance to the economy of Rajasthan. We had a very fruitful discussion with leading business groups today as a result of which we signed two investment MoUs in the hospitality development sector.”

The Minister-led delegation will also participate in the Riyadh investor roadshow later this evening where key stakeholders from the trade and business community will be urged to explore new business and investment opportunities in Rajasthan. Yesterday, the Minister jointly inaugurated India Food Festival at a hotel in Riyadh along with Indian Ambassador to Saudi Arabia Dr. Suhel Ajaz Khan. The festival will celebrate the vibrant flavours and culinary heritage of Indian food. Today in another joint event with Dr. Khan, the Minister inaugurated the India Pavilion at Saudi Build 2024 organised by the Federation of Indian Exporters Organisation (FIEO). The pavilion will enhance business opportunities for the Indian traders and exporters.

In addition to the Minister, the other delegation members that are currently in Saudi Arabia include Shri Naveen Jain, Secretary, Finance (Expenditure) Department, Government of Rajasthan, Shri Sandesh Nayak, Special Secretary to Hon’ble Chief Minister, Shri Navneet Kumar, Additional Commissioner, DMIC, Shri Ravish Kumar Verma, joint Commissioner Industries, Shri Krishna Kumar Gupta, DGM, RIICO and other top officials of the Government of Rajasthan.

In the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, the government of Rajasthan has organised investors’ meets around the country as well as overseas. The domestic investors’ meets have already been organised in Mumbai and New Delhi whereas on the global front, the investors’ meets have so far been organised in South Korea, Japan, UAE, Qatar, Singapore, Germany and the United Kingdom. The extensive outreach at the domestic and international level has resulted in Government of Rajasthan securing Investment proposals (MoUs) worth over INR 18 lakh crore so far, reflecting the resounding faith of the investor and business community in the state’s efforts.

About the ‘Rising Rajasthan’ Global Investment Summit 2024:

The Government of Rajasthan, led by Hon’ble Chief Minister Shri Bhajan Lal Sharma, will be hosting the ‘Rising Rajasthan’ Global Investment Summit 2024 on 9th, 10th, and 11th December 2024 in the capital city of Jaipur. The 3-day mega summit, which aims to attract and facilitate global investment, innovation, and partnerships in the state, is organized with the support of the Industry and Commerce Department, Bureau of Investment Promotion (BIP), and RIICO, with BIP serving as the nodal department for this summit. During the summit, special plenary sessions will be organised on different focus sectors, including Agriculture, Renewable, Education and Skilling, Auto and EV, Infrastructure, Chemical and Petro-chemical, Tourism, Startups, Mining and ESDM/IT and ITeS and others.

The Saudi Arabia leg of the investor roadshow is being organized with the assistance of Embassy of India in Riyadh and in association with the Indian Federation of Indian Chamber of Commerce and Industry (FICCI), which is the summit partner of the ‘Rising Rajasthan’ Global Investment Summit 2024. PwC India is the knowledge partner of the summit.